By Maria Jaena P. Go-Aco | Market Innovation Division (MID) | DTI-Export Marketing Bureau

01 April 2019

Published also in Business Mirror

RUSSIA, the largest country in the world in terms of land mass, is the 12th-largest economy in the world with a nominal gross nominal product of $4.02 trillion.

The Eurasian Economic Union single market of Russia, Belarus, and Kazakhstan Armenia and Kyrgyzstan increase this consumer base to over 170 million more wherein Russia is the lead country.

The visit of President Duterte in May 2017 to  Russia paved the way to vast opportunities for increased economic cooperation, political security, and cultural and people-to-people exchanges between the two countries. To move things forward, the Department of Trade and Industry forged and signed a Joint Commission on Trade and Economic Cooperation, and discussed various areas of cooperation in trade and investments, agriculture, industry, energy, manufacturing, infrastructure, transport, tourism, science and nuclear technology, labor and higher education.

The Department of Agriculture, likewise, convened the very first Philippines-Russia Joint Working Group Meeting on Agricultural Cooperation.  With this meeting three Philippine fishery companies were accredited by the Russian Federal Service for Veterinary and Phytosanitary Surveillance and can now export canned tuna to Russia.

Together, the Philippine Trade and Investment Center (PTIC) in Moscow and the DTI’s Export Marketing Bureau  with the DA’s Agribusiness and Marketing Service are currently organizing Philippine participation in the World Food Moscow in September 2019 at Crocus Expo Exhibition Center in Moscow. This outbound business-matching mission (OBMM) with trade-fair participation aims to enable Filipino exporters to promote their products and meet buyers face to face.  Exporters will also have the opportunity to learn and experience the intensity of business in the Russian market through market-sensing activities.

Other activities of the OBMM include meetings with major business chambers, associations and importers in Russia.

It is now time to explore opportunities and do business in Russia.